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OSRAM acquires Siteco Lighting

01 March 2011 12.00 GMT


(Germany) - OSRAM is acquiring Siteco Lighting based in Traunreut/Germany from Barclays Private Equity. Siteco is a leading European lighting company with a worldwide workforce of 1250 and achieving revenue of around €220 million in fiscal year 2010.

The company supplies luminaires and lighting systems for urban infrastructures such as public and commercial buildings, streets, tunnels, airports and sports stadiums.

“With this acquisition, OSRAM is addressing this key market. As a leading manufacturer of lighting components, we are now also further expanding our competencies in the solution business. This applies to conventional energy-saving lighting technology and in particular to LED-based luminaires and systems, where we are expecting the greatest growth”, says Martin Goetzeler, CEO of OSRAM. The transaction remains subject to approval by the relevant antitrust authorities. The parties have agreed to keep the purchase price undisclosed.

Siteco produces luminaires in Germany and China and has over 15 sales companies in Europe, as well as a global sales network. This acquisition therefore provides OSRAM with broad access to the market for lighting solutions and a modern range of products in the field of interior and exterior lighting. Furthermore, OSRAM will benefit in the development of new products from Siteco’s wealth of experience arising from collaboration with end customers, architects, lighting designers and installers. Siteco has been used in high profile lighting projects including the Allianz Arena in Munich, Barajas Airport in Madrid and of the world's tallest buildings, the Taipeh Tower in Taiwan. OSRAM see the Siteco brand as fitting well along side the product range of the joint venture formed by OSRAM and Traxon Technologies in 2008.

www.osram.com
www.siteco.com

 

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